Hospitality Funding and TQP Capital Partners will develop Cambria Hotels’ first Vermont location. Hostmark Hospitality Group will operate the 142-rooom hotel, opening in Burlington in 2021.
The hotel will feature a rooftop bar and restaurant overlooking Lake Champlain, multifunction meeting space and a fitness center. Located near the heart of Burlington, it will be in walking distance of the University of Vermont, the UVM Medical Center, Champlain College and The Church Street Marketplace. Housed in the former Greater Burlington YMCA, the hotel will preserve the building’s historic façade.
"Choice Hotels' experience in cultivating developer relationships and the resources they provide helped lay the groundwork for our agreement," Scott Silver, chairman/CEO, Hospitality Funding, said in a statement. "My roots in Vermont and Burlington, as well as collaboration with the Greater Burlington YMCA, give me great insight into the sense of community here. The unique blend of a bustling metropolis and the coziness of a tucked-away town sealed the deal for the development of this Cambria Hotel."